Bank Of Montreal (NYSE:BMO) to Issue Quarterly Dividend of $1.63

Key Points

• The Bank of Montreal has declared a quarterly dividend of $1.63 per share, marking a 38.1% increase from its previous dividend of $1.18.
• Shareholders of record on October 30th will receive the dividend payment on November 26th, resulting in an annualized yield of 5.7%.
• Analysts project the Bank of Montreal's earnings will support the dividend, estimating a future earnings per share of $9.02 and a payout ratio of approximately 51.3%.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO declared a quarterly dividend on Tuesday, August 26th, RTT News reports. Shareholders of record on Thursday, October 30th will be given a dividend of 1.63 per share by the bank on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 5.7%. This is a 38.1% increase from Bank Of Montreal's previous quarterly dividend of $1.18.

Bank Of Montreal has a payout ratio of 50.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank Of Montreal to earn $9.02 per share next year, which means the company should continue to be able to cover its $4.63 annual dividend with an expected future payout ratio of 51.3%.

Bank Of Montreal Stock Down 0.9%

BMO stock opened at $113.6670 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $111.95 and a two-hundred day moving average price of $103.66. The company has a market cap of $81.43 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.28 and a beta of 1.07. Bank Of Montreal has a twelve month low of $81.13 and a twelve month high of $115.66.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last posted its quarterly earnings results on Wednesday, May 28th. The bank reported $1.84 earnings per share for the quarter, meeting analysts' consensus estimates of $1.84. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $8.79 billion. Bank Of Montreal had a return on equity of 10.15% and a net margin of 10.25%.The business's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.59 earnings per share. Analysts anticipate that Bank Of Montreal will post 7.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank Of Montreal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMO. Norges Bank acquired a new position in shares of Bank Of Montreal during the 2nd quarter worth $1,184,220,000. Goldman Sachs Group Inc. grew its position in Bank Of Montreal by 213.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,259,505 shares of the bank's stock worth $406,825,000 after acquiring an additional 2,899,061 shares during the last quarter. Public Sector Pension Investment Board grew its position in Bank Of Montreal by 2,986.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,170,118 shares of the bank's stock worth $240,009,000 after acquiring an additional 2,099,800 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Bank Of Montreal by 42.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,838,171 shares of the bank's stock worth $664,742,000 after acquiring an additional 2,044,862 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Bank Of Montreal by 15.4% during the 4th quarter. Mackenzie Financial Corp now owns 12,215,628 shares of the bank's stock worth $1,184,636,000 after acquiring an additional 1,630,962 shares during the last quarter. 45.82% of the stock is owned by institutional investors and hedge funds.

About Bank Of Montreal

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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